Redundancy Cover!

These policies pay a monthly payment to you should you be made redundant

so that you can pay your mortgage each month. They usually have a minimum

number of qualifying days of between 30 days to 60 days that you have to

be redundant before the policy starts paying out.

They tend to pay you a monthly sum for either 12 or 24 months or until

you get back to work if sooner.

If you are buying a property jointly it is worth considering how you

would cope if you just had one salary. Would you manage the bills on

either of your wages alone? Or do you have enough savings to get past

a period on unemployment without getting into debt?

If you are buying on your own you should probably see this as your top

priority in terms of insurance. It is perhaps worth considering whether

your family would be able to help you out should you have a period of

redundancy.

Please note that the level of state help in the event of redundancy is

minimal. Our advisers will be able to give you an idea of the current

rules at any given time.

The cost of this cover is around £15 per month to provide £500 per

month redundancy cover.

This insurance is currently ONLY AVAILABLE WHEN PURCHASING YOUR HOME.

Insurers will not accept applications for redundancy cover during your

mortgage as they suspect that you might be aware of problems with your

employment.

For an exact quotation please click below